ResMed Inc. (NYSE:RMD) Stock Holdings Boosted by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its position in ResMed Inc. (NYSE:RMD) by 20.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,502 shares of the medical equipment provider’s stock after purchasing an additional 429 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in ResMed were worth $572,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RMD. Geode Capital Management LLC raised its holdings in shares of ResMed by 10.9% during the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after buying an additional 380,383 shares during the last quarter. Los Angeles Capital Management LLC increased its position in ResMed by 60.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock valued at $152,973,000 after acquiring an additional 250,746 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in ResMed by 726.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock valued at $69,281,000 after acquiring an additional 249,454 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in ResMed during the 4th quarter worth $50,364,000. Finally, Nordea Investment Management AB grew its stake in shares of ResMed by 92.7% in the fourth quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock worth $103,214,000 after purchasing an additional 215,561 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Kaushik Ghoshal sold 9,113 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the transaction, the insider now directly owns 9,725 shares of the company’s stock, valued at approximately $2,289,265. The trade was a 48.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the sale, the chief executive officer now owns 455,472 shares of the company’s stock, valued at $107,842,105.44. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,940 shares of company stock worth $9,164,385. Corporate insiders own 0.71% of the company’s stock.

ResMed Stock Up 0.1 %

Shares of ResMed stock opened at $224.46 on Tuesday. ResMed Inc. has a 12-month low of $172.19 and a 12-month high of $263.05. The firm has a market capitalization of $32.97 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The stock’s fifty day moving average is $236.09 and its 200-day moving average is $239.66.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Equities analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s payout ratio is 25.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RMD shares. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a report on Saturday. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, January 31st. Piper Sandler raised their price objective on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. KeyCorp upped their target price on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.82.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.